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Catherine White's Blog

By Catherine Ammann | Agent in Los Angeles, CA
  • Mortgage Loans: Guidance, Steps and Tips

    Posted Under: Home Buying in West Hollywood, Financing in West Hollywood, Credit Score in West Hollywood  |  January 4, 2012 4:20 PM  |  365 views  |  No comments
    Here is an amazing, local, and top notch service Mortagage Lender:

       PROSPECT MORTGAGE

    Contact me or JinHee for more information! Here is a bit of guidance, steps and tips from:

     

    From the Desk of Jinhee Hann

     

    The home buying process is more difficult than ever.  Bank underwriters are checking and double checking every piece of information associated with your loan application.  Below is a list of items you will need to provide for your mortgage pre-approval.  You can email the documents, fax to 877-805-6697, or call me to arrange a pick-up of the documentation.

     

    Providing complete documentation up front is the key to simplifying the loan process and closing your escrow on time.  Please be as thorough as possible with the paperwork you provide.  Your loan pre-approval will not be finalized and a pre-approval letter cannot be issued until all documentation is received.

     

    The requested personal information can be provided via fax, email, or uploaded to the “Pre-Qualify” tab on our website: http://www.myprospectmtg.com/JHann

     

    · Full Name

    · Birthday

    · Social Security Number

    · Home address and status (own or rent)

    · Work address and length of time at current employer

    · Estimate of monthly income

    · Estimate of current balances in cash or investment accounts

    · Home, Cell, and Work phone number

     

    I also will need the following documentation faxed, emailed, or delivered to me as soon as possible:

     

    · Copy of your drivers license

     

    · Pay-stubs covering the most recent 30 days.  Paystubs must include a pay rate and year-to-date income totals.  Self employed borrowers will need to provide proof of year-to-date income via check stubs, accounts receivable, or a year-to-date profit and loss provided by your accountant

     

     

     

     

     

     

     

     

    · 2009 & 2010 W2s and full federal tax returns - Tax returns must include the entire Federal return with all schedules, all W2s or 1099s, and all pages

     

    · 2 months bank statements from all accounts that have cash value.  Statements must include all pages (even blank ones), full account numbers, and the full name of the account holder.  Please feel free to also include quarterly statements for investment accounts, IRAs, and/or 401Ks

     

    · 12 months of cancelled rent checks and the name and phone number of your current land-lord, OR a contact to the leasing agency (first time buyers and renters only)

     

     

    *** Upon receipt of all documentation, a loan pre-approval will be issued within two hours***

     

    What not to do within 90 days of buying a home

     

    · Do NOT make any large purchases or enter in to any agreements that result in changes to your credit profile

    · Do NOT transfer money around from various accounts.  This can result in underwriters asking for a paper-trail of withdrawals, deposits, and transfers

    · Do NOT change jobs or make drastic changes to your income without talking to your loan officer

    · Do NOT hide or omit information about your personal or business finances from the loan originator or the underwriter

     

     

    We look forward to working with you to obtain the best mortgage financing available.  If you have any questions, you can reach me 7 days a week via my cell phone. 

    -JinHee Hahn

    and your REALTOR, Catherine White

  • First time Home Buyers, get preapproved!(and let me help you)

    Posted Under: Home Buying in Los Angeles, Financing in Los Angeles, Credit Score in Los Angeles  |  September 1, 2011 9:20 AM  |  356 views  |  No comments

    All you need is an experienced and dedicated real estate professional on your side! I specialize in helping first time buyers realize their dreams of owning their own home. I've helped many clients over the years, and I can help you too. I'll guide you through every step of the buying process from loan pre-qualification to signing the final paperwork. I can even recommend the best neighborhoods and schools for your children. Call me today, and I'll take care of everything.


    Getting Preapproved

    Today, the first step in landing a home loan is obtaining a letter of preapproval. This means a mortgage lender has verified that you re approved for a mortgage of a certain amount over a fixed timeframe. Preapproval letters are prepared even before you ve picked out your home. They remove some of the uncertainty in the home-buying process. In the current housing market, real estate agents and sellers won't want to work with buyers unless they have one.

    Getting preapproved means a lender must review and verify a home buyer s income, credit and assets to ensure he can make the necessary monthly payments on a house. In the wake of the housing bust, borrowers must be more forthcoming when it comes to their finances. Your lender should tell you precisely what you need, but be prepared to include:

    • W2 statements (or 1099 income statements) for the last two years
    • Federal tax returns for the last two years
    • Bank statements for the last few months
    • Recent pay stubs and proof of other income
    • Proof of investment income

      For more assistance in the proccess of getting preapproved and buying your first home, contact me at (323)877-9376
 
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